Northern Rock nationalisation plan leaves marketing future in the … – How Do- About: Article Marketing

The government’s proposal to nationalise the stricken lender Northern Rock has left the future of its multi-million pound marketing accounts hanging in the balance. Such a strategy is likely to have widespread ramifications for shareholders – trading in Northern Rock was suspended on Friday with shares at 90p (valuing the company at £380m, considerably less than its £5bn worth a year ago) – and for the marketing services suppliers that tend to its business. The agency, still the biggest media buying point outside of London , has held the Northern Rock business for eight years and, traditionally, it has been acknowledged as one of the firm’s cornerstone accounts. When quizzed on the client late last year, in the midsts of the initial storm enveloping the bank, agency MD Andy Jeal insisted that it was “business as usual” between Northern Rock and Mediavest, with ongoing campaigns planned into the future (he also declined to confirm exactly how much the brief was worth to the agency, although it is known to be a substantial seven-figure sum). If the business is now set to finally exit the media firm it will mark another jolt in what has been a rollercoaster year, with initial huge account losses such as B GL being balanced with a steady succession of wins of the order of Regatta , Manchester Airports Group and JYSK. read more

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